What's the Alternative? Meet the Manager

Shana Orczyk Sissel

Welcome to "What's the Alternative?" hosted by Shana Orczyk Sissel, Founder and CEO of Banríon Capital Management, and widely known as the “Queen of Alternatives.” In this insightful podcast, Shana engages with leaders who are redefining the landscape of alternative investments, diving into the intricacies of strategies that often leave investors perplexed or hesitant. Each episode tackles complex and sophisticated topics, bringing clarity to misunderstood products in the alternative space. Shana isn’t afraid to confront controversy or current events, posing the tough questions that many are thinking but few dare to ask. Through candid conversations with industry experts, listene...

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What's the Alternative? Meet the Manager

Episodes (34)

Oct 6th What's the Alternative? | Episode 34 | Understanding GP Stakes: A Unique Approach to Private Equity with Clark Edlund
May 5th What's the Alternative? | Episode 33 | ETF Masterclass: Buffered ETFs 101 with Erik Ogard
Apr 7th What's the Alternative? | Episode 32 | Beyond the 60/40: Navigating the Complex World of Return Stacking with Corey Hoffstein

What's the Alternative? Meet the Manager

Oct 6, 2026
55¾ minutes
478 MB

Host Shana Orczyk Sissel kicks off season four of What’s the Alternative? (a Wealthies Awards finalist) with Clark Edlund, Partner at CAZ Investments, to explain GP stakes, buying an ownership interest in an alternative asset manager to access “house” economics (management fees, carried interest, balance sheet) rather than only LP fund returns. The episode breaks down common private market terms and fee mechanics (management fees on committed vs deployed capital, preferred return/hurdles, catch-up, high watermark, and American vs European waterfalls) and why alignment and underwriting matter. They discuss diversification benefits across strategies and vintages, structural realities like slow c...

What's the Alternative? Meet the Manager

What's the Alternative? | Episode 34 | Understanding GP Stakes: A Unique Approach to Private Equity with Clark Edlund

Shana Orczyk Sissel

00:00 -53:58